Tag: business tips

“The income statement that my accountant gave me says that I am making a nice profit, but I never seem to be able to have enough cash.” Does this sound familiar? First of all, if you are wondering these things, you are not alone. Here are some common issues that may affect the cash flow of… Read more »

I read this morning in the Buffalo News that another bookkeeper became a millionaire – for a while at least – by stealing from her company. Here is a link to the article: http://www.buffalonews.com/apps/pbcs.dll/article?AID=/20130429/CITYANDREGION/130429036/1010 In the article, several issues are raised: “Davis became the sixth person prosecuted by the Erie County District Attorney’s Office in… Read more »

A key element in planning and understanding your business is measurement. Tracking stats is as important in business as it is on the playing field. Each month as a business owner, you get the Income Statement which is the scoreboard of profitability. Helping your team understand how their actions impact the score requires analysis, measurement… Read more »

Imagine this scenario. Your neighbor shows up at your front door one winter afternoon and asks if he can borrow your snowblower. You say “sure”, and proceed to ask if he knows how to use it. He responds, “I don’t think so.” Even though you find this comment a bit odd, you want to be a… Read more »

Business owners can benefit from incorporating entrepreneurial strategies at any stage of the life of their business. Strategies such as conserving cash are always good strategies in the early stages of a business as well as later in its life. Thinking like an entrepreneur will promote responsible thinking. Just because resources are more abundant in… Read more »

Business leaders do not start their organization hoping to spend a lot of time doing accounting and finance, but rather doing what they do best, filling an unmet need or providing a great new service. All leaders, however, need to have a high level of financial intelligence to know they are making the best possible… Read more »

This piece deals primarily with growing businesses and some of the major issues they confront. I recommend this article from the New York Times as a good summary of the complex range of issues that all small businesses face. The article defines a number of tipping points that confront companies as they grow.… Read more »

Business is a lot like Sports. Warning – Don’t play like the Buffalo Bills. When you have a business model that works, it’s easy to decide not to change anything. Take the case of the Buffalo Bills. In week four they entered a game with the New England Patriots in an unusual position. They were… Read more »

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